In recent years, from 2015 to the present day, some innovations have been adopted in the topic of bankruptcy of individuals. What are the nuances of bankruptcy, taking into account the adopted court decisions in the Russian Federation, relevant for 2019?
In Russia, the need to introduce the possibility of bankruptcy of individuals at the legislative level has matured back in the 2000s. During this time, the state has experienced both economic ups and downs. And the unstable situation negatively affected the well-being of hundreds of thousands of citizens. Over the past decade, small businesses have been increasingly failing and going bankrupt.
Individuals who have received loans, including those for starting their own business, are unable to settle accounts with them due to the decline in consumer activity and the uncontrolled rise in prices. People who fell into financial "bondage" tried to solve the problem by refinancing and new loans. However, this did not solve the problem, but exacerbated it even more.
For a long time, citizens did not have the legal opportunity to refuse from unbearable debt obligations. And only on October 1, 2015, the authorities adopted the Law of the Russian Federation "On Bankruptcy of Individuals".
The essence of the bankruptcy process for individuals
If a person's income has decreased or is completely absent, he is unable to close credit obligations, tax debts and payments for utilities within the established time frame and came to the conclusion that in the near future the financial situation will not change significantly, he should file an application with the regional arbitration court for the purpose of declaring its bankruptcy.
Wherein:
- he is obliged to do this if the debt is more than 500 thousand rubles.
- he has the right to do this if the debt is less than 500 thousand rubles.
Mandatory circumstances
If a person's officially confirmed income can be distributed to pay off debts within 3 years, then the court will approve the format of debt restructuring. For the period of restructuring, the debtor does not pay interest and penalties to the bank.
If there is no material opportunity to pay off the debt, then the court will issue a ruling on declaring the debtor bankrupt. In this case, all property of a person is sold, with the exception of living quarters, personal and household items. The money received from the sale is used to pay off the debts of the bankrupt, the rest is "zeroed out".
Under what conditions is it possible to declare bankruptcy of an individual in 2019
There is a wrong stereotype circulated by the media that it is enough to meet only two points to be declared bankrupt:
- total debts of a person exceeded 500,000 rubles;
- payments are overdue for more than 90 days.
The truth is that it is possible to declare bankruptcy in court if the amount of the debt is several times less and he does not need to wait even for the first delay.
Of course, both the amount and the period of delay are taken into account by the court, but this is not of paramount importance. The main thing in the bankruptcy of an individual is the inability of a person to pay off a debt in a timely manner. The key word here is inability.
The amount of debt determines the expediency of the procedure for declaring an individual bankrupt, because a person will have to pay a state duty.
If the total debt for 2019 (excluding penalties, but with% of the bank) exceeded 500 thousand rubles, then, according to Russian law, a citizen is obliged to file an application with a court to declare him bankrupt. The amount of debt includes not only overdue debt, but also urgent - the total amount that must be paid to stop being a debtor.
